Tuesday, May 24, 2011


However, in the absence of a bilateral treaty with Liechtenstein, India cannot seek any administrative assistance or details on Indian clients of the LGT Bank. If it goes for a TIEA, information would be exchanged relating to a specific criminal or civil tax investigation or civil tax matters under investigation. In DTAA, on the other hand, there are agreed rates of tax and jurisdiction on specified types of income arising in a country to a tax resident of another country. India has completed negotiations of 10 new TIEAs with Bahamas, Bermuda, British Virgin Islands, Isle of Man, Cayman Islands, Jersey, Monaco, Saint Kitts & Nevis, Argentina and Marshall Islands out of 22 identified jurisdictions.

Negotiations with four countries are under progress and the response is awaited from another four, who want to sign DTAA instead of TIEA.

India has DTAAs with 79 countries. It has initiated process of negotiation with 65 countries to broaden the scope of article of exchange of information to include exchange of banking information. Negotiations and re-negotiations of DTAAs with 23 countries have been completed.

1 comment:

  1. http://www.telegraph.co.uk/earth/wildlife/6927330/Top-10-most-endangered-species-in-the-world.html